How To Calculate Interest For Shareholder -note Payable On My Last Return Filed My Cpa Accrued Interest Of 1163.00 For Loan Owed To Shareholder (beg Of Yr Was 26,933 And End Of Year Was 50,979) An Addl 24,046 Was Loaned To S Corp From (100%)shareholder During Year Thus Making Yr End Loan Of 50979. My Question Is How Do I Come In And Calculate The Interest On This Return - An Additional Loan To The S Corp From Shareholder Of 26,146 Leaving 77,125 As The Yr End Loan Amount. Is There A Formula To Use?? I Have Been Able To Figure Out Everything Else But How To Handle The Interest. Please Help. |